Furthermore, Starbucks posted revenue of $8.15 billion, an 8.7% year-on-year (YoY) increase, beating estimates by $20 million; similarly, the earnings per share (EPS) were $0.84 beating estimates by $0.08. Moreover, the firm’s CFO, Rachel Ruggeri, joined CNBC’s Squawk Box to discuss the strong results, stressing that they have ‘an offering that’s worth paying for.’ She also added:
SBUX chart and analysis
The long-term trend is still neutral, but the short-term trend is positive, with the stock trading between $75.73 and $85.59 over the past month. When compared to the yearly performance of all other stocks, SBUX outperforms 40% of them, but it is still down 28% for the year. Currently, the support zone is in the range between $83.32 and $84.02, while the resistance area is amidst $88.78 and $88.91. The investor day that should be held in September will answer additional questions and possibly shed more light on the recovery in China. Furthermore, a new CEO hire late in 2022 could boost investors’ confidence in the firm, as short-term price volatility may be expected. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
